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Decommissioning of Japan’s nuclear stations: is it really worth the cost – to reactivate any of them?

Japan Times 1st April 2018, The recent decision by Shikoku Electric Power Co. to decommission the aging
No. 2 reactor at its Ikata nuclear facility in Ehime Prefecture serves as
yet another reminder that tightened safety regulations and market
conditions in the aftermath of the 2011 Fukushima crisis are imposing a
heavy financial burden on power companies that run nuclear power plants.

Whether or not they push for reactivating the reactors idled in the wake of
the 2011 accident, both the government and the power industry are urged to
reassess the economics of nuclear power to determine whether they are still
worth the cost.

The Ikata reactor is the ninth at six nuclear power plants
across Japan to be decommissioned after the 2011 disaster, not including
the six at Tokyo Electric Power Co.’s Fukushima No. 1 plant, which was
crippled by the meltdowns at three of its six reactors in March 2011 after
the plant was flooded by giant tsunami in the Great East Japan Earthquake.

All of the reactors were aging and nearing the 40-year limit on their
operation, and the power companies were faced with the question of whether
to decommission the reactors or apply to the Nuclear Regulation Authority
for approval of a one-time extension of their operation for another 20
years — which would have entailed costly additional investments to bump
up their safety under the post-Fukushima rules.  https://www.japantimes.co.jp/opinion/2018/04/01/editorials/reassess-economics-nuclear-power/

April 6, 2018 Posted by | business and costs, Japan | Leave a comment

EDF says that proposed Sizewell C nuclear plant in Suffolk may not be feasible

Sizewell C nuclear plant may not be feasible, says EDF boss https://www.newcivilengineer.com/business-culture/sizewell-c-nuclear-plant-may-not-be-feasible-says-edf-boss/10029739.article 5 APRIL, 2018 BY FIONA MCINTYRE  

The proposed Sizewell C nuclear plant in Suffolk may not be feasible, EDF Energy’s UK boss told The Times, while the energy firm said it is discussing funding options with the government including using pension funds.

EDF Energy UK chief executive Simone Rossi told the newspapaer that the firm needs assurances from government that a “viable funding model exists” for Sizewell C this year. If EDF Energy believes the project is not feasible, it may stop its involvement in the project.

EDF Energy is currently in talks with the government over a funding model for the Suffolk nuclear power plant which would reduce costs for consumers. New Civil Engineer understands pension funds are being considered as a way to help finance Sizewell C.

Rossi told The Times: “This is the year where we need to understand whether this whole thing is really feasible or not.”

He added: “If we were to conclude that maybe it’s not feasible, then at that point maybe we say we are not in a position to continue the project.”

Rossi also said expected cost savings for Sizewell C could disappear if there is a “significant delay” between work on it and Hinkley Point C.

EDF Energy has said it expects construction costs for Sizewell C to be roughly 20% less than for the £19.5bn-plus Hinkley Point C plant. This is because the new plant would almost be a replica of Hinkley Point C, and because electricity grid connections are already in place at the Sizewell C site.

In June last year the National Audit office branded Hinkley Point C “risky and expensive”.

A spokesperson for EDF Energy denied Rossi’s comments were an ultimatum and said Sizewell C would benefit from an existing supply chain, while providing jobs for 5,600 construction workers.

The spokesperson added: “We are working with Government to look at alternative financing models because reducing the cost of capital can make a significant difference to the price for consumers. Financing models that create the conditions where institutional investors like pension funds can participate.”

April 6, 2018 Posted by | business and costs, UK | Leave a comment

Global nuclear power firms scrambling to market nuclear technology to Middle East countries

Nuclear power firms woo Middle East http://www.eco-business.com/news/nuclear-power-firms-woo-middle-east/   Middle Eastern countries are welcoming nuclear power firms promising to meet their energy needs, while most of the world worries over reactor costs.   from Climate News Network. 5 Apr 18

Nuclear power firms are scrambling to sell reactors to countries in one of the most troubled parts of the world, the Middle East. Many lack domestic customers and see this new market as a potential lifesaver.

A report last year by the US-based Center for Climate & Security included the Middle East in a list of what it called “potential crisis regions where combining security, climate, and nuclear risks must be addressed urgently.”

The biggest prize is the oil-rich kingdom of Saudi Arabia, which has announced plans to build 16 nuclear plants over the next 25 years at a cost of US$80 billion, part of an effort to diversify away from fossil fuels. South Korea, China, France, Russia, Japan and the United States are all bidding to build them.

In a region where renewables are half the price of nuclear power – because the sun shines for longer and with greater intensity than almost anywhere else in the world – building new nuclear plants may seem strange.

Saudi Arabia, which is also investing heavily in solar power, points to rapidly rising domestic demand for electricity and says renewables will not provide enough for its needs.

Other countries in the region that are already building or have signed contracts to build new reactors are Iran, United Arab Emirates, Jordan, Egypt and Turkey.

All say the decision to go for nuclear power is entirely a consequence of the local need for more electricity, although perhaps the Saudi rulers also have an eye on their power rival Iran, which already has an operating nuclear power station and is building more.

Mohammad bin Salman, the Saudi crown prince who effectively runs Saudi Arabia for his father King Salman, was asked about this on the US TV network CBS in March. He replied: “Saudi Arabia doesn’t want to own a nuclear bomb. But without a doubt, if Iran develops a nuclear bomb, we will follow suit as soon as possible.”

Rival contenders

Despite this, the Trump administration remains keen to sell its Westinghouse-designed nuclear power stations to the Saudis. Russia, China, Japan and South Korea also want to sell their own designs.

As well as the need to keep their national nuclear companies ticking over and grabbing lucrative exports, all these countries would welcome the political influence that providing such important infrastructure would give them in the Middle East.

Well ahead of Saudi Arabia in developing nuclear power is the neighbouring United Arab Emirates. Its first reactor was due to open this year and is almost complete, though its start-up date has been pushed back to 2019.

The UAE’s $24.4bn Barakah power plant is the world’s largest currently under construction. It will contain four reactors, is being built by the Korea Electric Power Corporation (KEPCO) and appears to be going well.

Too few operators

The postponement seems not to have been caused by construction delays but by lack of trained crew to operate the first of the four reactors. When it is up and running, the UAE will become the first country to start operating a nuclear plant in more than 20 years.

Again, the country has plenty of oil reserves and renewable resources, but wants nuclear power to provide a guaranteed electricity supply instead of having to rely on imported gas.

Jordan, which has no fossil fuel resource, and Egypt, with the region’s largest population, are also going nuclear. In both cases they have signed deals with the Russian state-owned giant Rosatom. Egypt has signed a deal for four nuclear plants costing $30bn, and Jordan for an energy package worth $12bn, but which also includes some American involvement, according to Bloomberg New Energy Finance.

Avoiding imports

Turkey, again a populous nation that has to import most of its energy in the form of fossil fuels, is building a nuclear power station at Akkuyu on its Mediterranean coast in partnership with Rosatom. The first reactor was expected to be operating by now, but the opening date has been put back to 2020. It has other plants planned on its northern Black Sea coast.

This sudden enthusiasm for nuclear power in such a volatile region has prompted a debate about some governments’ motives. Israel is the only country in the Middle East that has long had the means to make nuclear weapons with its Negev Nuclear Research centre in the desert near Dimona.

It is already alarmed by Iran’s nuclear programme. A number of other potentially hostile states may also soon have the means to produce highly enriched uranium or plutonium.

If they do, they will face an already fully armed Israel. According to an estimate by the Washington-based Carnegie Endowment for International Peace, Israel, which began operating a plutonium-production reactor in 1963, possesses enough material for between 100 and 170 atomic weapons. Israel has never admitted this.

April 6, 2018 Posted by | marketing, MIDDLE EAST | Leave a comment

Resurrected nuclear company Orano (formerly Areva) – still losing money

Nasdaq 29th March 2018, French uranium mining and nuclear fuel group Orano, formerly called Areva, said its 2017 revenue fell 11 percent to 3.9 billion euros ($4.80 billion) and core earnings fell 30 percent to 946 million euros as demand for nuclear fuel remains low.

Orano’s order book, while still representing nearly eight years of revenue, fell to 30.8 billion euros at the end of 2017 from 33.6 billion euros at the end of 2016 and the company expects revenue will fall again this year. The company continued to burn cash, with a negative cash flow of 1.06 billion euros compared to minus 915 million euros in 2016, but Orano said it targets positive net cash flow from company operations this year.  https://www.nasdaq.com/article/nuclear-group-orano-earnings-slide-in-grim-uranium-market-20180329-00098

April 4, 2018 Posted by | business and costs, France, politics | Leave a comment

Tepco facing huge costs in Fukushima disaster, but still plans to help fund restart of Tokai nuclear power station.

TEPCO, Tohoku Electric to give Japan Atomic financial boost to help restart reactor https://mainichi.jp/english/articles/20180329/p2a/00m/0na/015000c,  (Mainichi Japan)  Tokyo Electric Power Company Holdings Inc. (TEPCO) and Tohoku Electric Power Co. have decided to help Japan Atomic Power Co. cover the some 174 billion yen needed to finance preparations to restart its Tokai No. 2 nuclear power station.

April 4, 2018 Posted by | business and costs, Japan | Leave a comment

Putin to launch Turkey’s first nuclear power plant

Vladimir Putin and Recep Tayyip Erdogan to launch Turkey’s first nuclear power plant, ABC News, 3 Apr 18 The leaders of Russia and Turkey are scheduled to launch the start of the construction of Turkey’s first nuclear power plant as ties between the countries deepen.

Russia’s Vladimir Putin, on his first foreign visit since re-election on March 18, arrived in Ankara on Tuesday for talks with Turkey’s Recep Tayyip Erdogan.

The two will remotely launch the construction of the Russian-made Akkuyu nuclear plant on the Mediterranean coast.

The $20 billion ($26 billion) project is to be built by Russian state nuclear energy agency Rosatom……http://www.abc.net.au/news/2018-04-03/putin-and-erdogan-to-launch-turkey-first-nuclear-reactor/9614652

 

April 4, 2018 Posted by | marketing, Russia, Turkey | Leave a comment

Global nuclear decommissioning services to be valued at USD 8.90 billion by 2025

 

The global nuclear decommissioning services market size is expected to be valued at USD 8.90 billion by 2025
Nuclear Decommissioning Services Market Size, Share & Trends Analysis Report By Reactor Type (PWR, BWR, PHWR, GCR), By Strategy (Immediate and Deferred Dismantling, Entombment), And Segment Forecasts, 2018 – 2025   
 BY Sarah Smith Research Advisor at Reportbuyer.com Email: sarah@reportbuyer.com  ReportBuyer   LONDONApril 3, 2018 /PRNewswire/ –According to a new report by Grand View Research, Inc., exhibiting a 6.8% CAGR during the forecast period. Global nuclear phase out and rising support from governments post nuclear accidents are among major factors expected to fuel market growth over the years to come.

Rise in public safety concerns due to hazardous consequences of nuclear accidents is set to actuate market demand over the coming years.In addition, increasing sustainability concerns are likely to positively impact market growth.

The transitioning trend toward renewable energy thanks to various government initiatives and regulations is also projected to promote nuclear decommissioning services over the forecast period.

With extensive research and development underway, various novel decommissioning technologies to enable efficient dismantling of nuclear facilities have been developed. Furthermore, in order to enable sustainable development, government authorities are providing various incentives and support schemes for efficient dismantling of nuclear plants. …….

The global nuclear decommissioning services market size is expected to be valued at USD 8.90 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 6.8% CAGR during the forecast period. Global nuclear phase out and rising support from governments post nuclear accidents are among major factors expected to fuel market growth over the years to come.

Rise in public safety concerns due to hazardous consequences of nuclear accidents is set to actuate market demand over the coming years.In addition, increasing sustainability concerns are likely to positively impact market growth.

The transitioning trend toward renewable energy thanks to various government initiatives and regulations is also projected to promote nuclear decommissioning services over the forecast period.

With extensive research and development underway, various novel decommissioning technologies to enable efficient dismantling of nuclear facilities have been developed. Furthermore, in order to enable sustainable development, government authorities are providing various incentives and support schemes for efficient dismantling of nuclear plants.

Key market players include Orano Group; Babcock International Group PLC; Westinghouse Electric Company LLC; AECOM Group; Studsvik AB; Bechtel Group Inc.; GE Hitachi Nuclear Energy; and Magnox Ltd. These companies mainly focus on innovation to improve service quality and meet global demand.

Download the full report: https://www.reportbuyer.com/product/5360564  https://www.prnewswire.com/news-releases/the-global-nuclear-decommissioning-services-market-size-is-expected-to-be-valued-at-usd-890-billion-by-2025-300623629.html

April 4, 2018 Posted by | 2 WORLD, business and costs, decommission reactor | Leave a comment

FirstEnergy files for bankruptcy for its uneconomic coal and nuclear subsidiaries

FirstEnergy Seeks Bankruptcy Protection for Ailing Coal and Nuclear Subsidiaries, The move follows FirstEnergy’s request for a federal bailout.  Greentech Media, 

April 4, 2018 Posted by | business and costs, USA | Leave a comment

China expanding its nuclear marketing overseas, with the help of Bill Gates

 

Chinese nuclear giant continues to expand overseas cooperation, 2018-03-03  Editor: Xiang Bo BEIJING, March 3 (Xinhua) — China National Nuclear Corporation (CNNC), one of the country’s two leading nuclear power companies, is stepping up its overseas cooperation, the chairperson said Saturday.

Progress is being made in cooperation with CNNC’s local partners in countries like Pakistan, Argentina, Saudi Arabia, Ghana and the United States, CNNC chairperson Wang Shoujun said on the sidelines of the annual session of the country’s top political advisory body…….

Last year, the CNNC signed a joint venture agreement with TerraPower, LLC to form the Global Innovation Nuclear Energy Technology Co., Ltd. to work together on the Travelling Wave Reactor technology, marking a new stage in China-U.S. nuclear cooperation, Wang added. ……http://www.xinhuanet.com/english/2018-03/03/c_137013831.htm

April 2, 2018 Posted by | China, marketing | Leave a comment

Collapse of USA’s nuclear industry: more shutdowns and bailouts to come

More Nuclear Power Plant Shutdowns, Bailouts In The Works, WSKG, 1 Apr 18 By Reid Frazier STATE IMPACT PENNSYLVANIA – Citing market challenges,” electric utility FirstEnergy says it will close three nuclear plants in Ohio and Pennsylvania, while at the same time asking the Department of Energy for immediate help to keep its fleet of coal and nuclear plants open.

The company, which could be near bankruptcy according to a report at cleveland.com, gave regional grid operator PJM interconnection notice that it will deactivate Beaver Valley Power Station and two other plants — Davis-Besse in Oak Harber, Ohio, and Perry Nuclear Power Plant in Perry, Ohio — by 2021.

……. Natural gas and renewable energy have been making up a larger amount of the country’s electric grid, eating into coal and nuclear power on wholesale markets. With that backdrop, FirstEnergy is also asking the Department of Energy to issue an immediate emergency order to PJM Interconnection, the grid operator for mid-Atlantic states, to provide “just and reasonable” compensation to its fleet of aging coal and nuclear power plants in order to keep them open.

“Nuclear and coal-fired generators in PJM have been closing at a rapid rate — putting PJM’s system resiliency at risk — and many more closures have been announced,” the company said, in a letter to Energy Secretary Rick Perry. “PJM has demonstrated little urgency to remedy this problem any time soon — so immediate action by the Secretary is needed to alleviate the present emergency.

…..The order would be similar to one that Perry’s own Department of Energy proposed last year, which would have made ratepayers pay more for energy produced at coal and nuclear plants. In January, the Federal Energy Regulatory Commission rejected the proposal.

Environmental groups were swift to label the plan a “bailout” for the coal industry.

“If Rick Perry and Trump Administration take the bait and actually issue this ill-advised and illegal emergency order, that means they’re happy to let energy bills and pollution skyrocket, just to bail out a handful of rich coal and nuclear executives,” said Mary Anne Hitt, Director of Sierra Club’s Beyond Coal campaign, in a statement.

The oil and gas industry was no less harsh in its criticism……..

In addition to looking for federal assistance, FirstEnergy is asking states for help, too.

Don Moul, president of FirstEnergy Solutions, the company’s power generation subsidiary, called on legislators in Ohio and Pennsylvania to help keep the nuclear plants open……..https://wskg.org/news/more-nuclear-power-plant-shutdowns-bailouts-in-the-works/

April 2, 2018 Posted by | business and costs, politics | Leave a comment

Britain’s uncompetitive electricty marke: big electricity companies don’t want the competition from renewables

Dave Toke’s Blog 1st April 2018, The media is awash with stories of the imminent emergence of ‘subsidy free’
wind and solar power in the UK, but the reality is that the uncompetitive  nature of the British electricity market mostly undermines that prospect.
In theory onshore wind power and maybe some solar power projects would be able to generate power to sell at competitive prices on the British
wholesale electricity market.

In practice most of the potential buyers of energy from new renewable energy projects will not be interested in buying
the energy even at cheap prices simply because it conflicts with their own  generation portfolios. True, there is a limited possibility for some very
large corporate consumers who are interested in buying green electricity to fund new projects by issuing corporate power purchase agreements (PPAs).

But in reality this market is small, and I have heard this estimated to be no larger than 100 MW a year. That means it would take around 20 years for
not quite 1 per cent of electricity to be supplied this way. PPAs are  needed for new renewable energy projects that offer the generators the
certainty that they can be paid a minimum amount for each MWh that they  produce for the long term. The UK Government’s PPAs, called contracts for
differences (CfDs), last 15 years. However they are no longer available for  onshore wind and solar.

The problem is that most of the market for offering PPAs that can fund new renewable energy projects comes from the big
electricity suppliers, who have been known in the past as the ‘Big Six’.

Only PPAs offered by really large companies will be usually taken seriously enough by banks and and other institutions to enable renewable energy
projects can obtain long term loans or equity. The trouble is that the Big Energy suppliers will usually have little interest in offering long term
PPAs to new renewable energy projects since. For a start they can buy in power at much the same price as the renewable energy generator can offer
without needing to commit themselves to long term agreements.

Crucially, the big electricity companies are struggling to keep their own power stations in business, and are not going to sign up competition from other people for their own business!
http://realfeed-intariffs.blogspot.co.uk/2018/04/why-britains-distorted-electricity.html

April 2, 2018 Posted by | business and costs, ENERGY, UK | Leave a comment

Vogtle nuclear reactors, years overdue, $billions overbudget – who pays?

Savannah Now 30th March 2018, The first of two new nuclear reactors at Plant Vogtle near Waynesboro was
supposed to open two years ago today, with the second following last year.
Instead, what’s now the nation’s only new nuclear project grinds on,
five years behind schedule and billions of dollars overbudget.

Construction continues at a pace of $91 million a month, with ratepayers largely on the
hook for those costs. But the issue of who pays for Vogtle isn’t yet a
done deal, with legal challenges pending, including one challenge brought
to court by a former Georgia governor. And ethics watchdogs are examining
the regulators, finding what they say are cozy relationships with the
utility and slack record keeping.
http://www.savannahnow.com/news/20180330/as-plant-vogtle-build-continues-so-do-appeals-to-stop-it

April 2, 2018 Posted by | business and costs, USA | Leave a comment

Toshiba to own Nuclear Fuel Industries, join Hitachi Ltd. and Mitsubishi Heavy Industries ?

Japan News 31st March 2018, Toshiba Corp. said Friday that it will take full control of Nuclear Fuel
Industries Ltd., a Japanese nuclear fuel supplier, by the end of June.
Toshiba, which last October agreed to acquire 52 percent of Nuclear Fuel
Industries from Westinghouse Electric Co., newly signed agreements to
purchase the remaining stake from Sumitomo Electric Industries Ltd. and
Furukawa Electric Co.

Sumitomo Electric and Furukawa Electric own 24
percent each of Nuclear Fuel Industries. Toshiba’s move to fully own
Nuclear Fuel Industries is expected to help accelerate its talks with
Hitachi Ltd. and Mitsubishi Heavy Industries Ltd. on integrating their
respective nuclear fuel operations in Japan.

Nuclear fuel suppliers owned by Japanese nuclear plant makers have been struggling with sluggish demand
as many nuclear plants in the country remain suspended. Toshiba, Hitachi
and Mitsubishi Heavy previously aimed to merge their domestic nuclear fuel
operations in spring last year, but the talks have been stalled due to
Toshiba’s financial crisis.  http://the-japan-news.com/news/article/0004340845

April 2, 2018 Posted by | business and costs, Japan | Leave a comment

Nuclear colonialism: nuclear nations keen to sell uneconomic nuclear power – e.g South Korea to United Arab Emirates

Arab world’s first nuclear reactor completed in UAE, in cooperation with South Korea, Arab Weekly    1 April 18 LONDON – Construction of the Arab world’s first commercial nuclear reactor has been completed in the United Arab Emirates. The plant is part of the country’s long-term strategy to decrease its reliance on fossil fuels.

The Barakah nuclear power plant, in western Abu Dhabi, is a joint project between the UAE’s Emirates Nuclear Energy Corporation (ENEC) and South Korea’s Korea Electric Power Corporation (KEPCO).

UAE Crown Prince Sheikh Mohammed bin Zayed al-Nahyan toured the $20 billion facility with South Korean President Moon Jae-in and announced on March 26 the completion of the construction“This is a historic moment in our nation’s development as we celebrate the construction completion of Unit 1 of the Barakah nuclear energy plant,” Sheikh Mohammed said……

Emirati officials said Barakah was the world’s largest single nuclear project. ……https://thearabweekly.com/arab-worlds-first-nuclear-reactor-completed-uae-cooperation-south-korea

 

April 2, 2018 Posted by | marketing, South Korea, United Arab Emirates | Leave a comment

Another nuclear power station to bite the dust- Davis-Besse

Davis-Besse nuclear power plant to shut down permanently in 2020, The Blade, Tom Henry 

March 31, 2018 Posted by | business and costs, USA | Leave a comment